HOME Research Insight Lear Corporation (U.S.) and Continental AG (Germany) are the Major Players in the Automotive Interior Market

Lear Corporation (U.S.) and Continental AG (Germany) are the Major Players in the Automotive Interior Market

The automotive interior market is projected to grow from USD 235.59 Billion in 2017 to USD 301.56 Billion by 2022, at a CAGR of 5.06%. The primary factors influencing the growth of this market are rising demand for premium segment vehicles with advanced interior styling and increasing passenger preferences for comfort and convenience.

Partnerships & collaborations have been the most important strategy adopted by leading players to sustain their hold in the automotive interior component market. One of the leading players, Lear Corporation, entered into a strategic partnership with Tempronics. Through this partnership, Lear Corporation has gained rights for thermoelectric seat cooling and heating technology, which can be used across a variety of applications in the automotive industry. Also, players such as Faurecia S.A. (France) and ZF Friedrichshafen (Germany) entered into a strategic partnership for the development of automotive interior and safety product segment, specifically for the autonomous driving technology.

The second key strategy followed by major key companies in this market is new product launches. Faurecia S.A. developed a new Active Wellness 2.0, the second-generation smart seat that can understand the driver’s biological and behavioral traits with the use of embedded sensors and optical devices. Other companies such as Magna International, Inc. (Canada) and Calsonic Kansei Corporation (Japan) are some of the leading market players that adopted this strategy to expand their automotive interior business at the global level.

The automotive interior market is dominated by some of the global players. The major players are Lear Corporation (U.S.), Continental AG (Germany), and Faurecia S.A. (France). Lear Corporation had announced its plans to establish a new automotive plant for seat covers in Gostivar, Macedonia in 2015. Through this facility, the company plans to conduct operations such as sewing, and this shall help Lear Corporation to supply products to all the major automakers in Europe. In the same year, Lear Corporation acquired Eagle Ottawa (U.S.) which is a global supplier of premium automotive leather. This acquisition was worth USD 850 million, and the company had 6,500 employees.

Continental AG (Germany) has been a leading player in the automotive interior market. Its product portfolio includes instrumentation and driver HMI, infotainment and connectivity, intelligent transportation systems, and body and security systems in automotive. New product launches and joint venture are the key strategies followed by the company to increase its market share. For example, the company developed a 7-inch color TFT cluster for the SAIC Roewe RX5. The cluster has been used on the new model since September 2016. This cluster is the first large instrument panel developed locally by Continental Automotive Body Electronics System (Wuhu) Co., Ltd.

Related Reports:

Automotive Interior Market by Component (Central Console, Cockpit Module, Dome Module, Door Panel, Headliner, Infotainment System, Interior Lighting, and Seat), Vehicle Type (PV, LCV, and HCV), and Region - Global Forecast to 2022

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